Manulife boosts RI stake<\/p>\n
JAKARTA (JP): Manulife Financial announced on Tuesday it has
\nacquired a 40 percent share of PT Dharmala Sakti Sejahtera in PT
\nAsuransi Jiwa Manulife Indonesia, raising its stake in the
\ncompany to 91 percent.<\/p>\n
The shares were offered in an open bid on Oct 26. Manulife
\nFinancial emerged as the highest bidder with a bidding price of
\nRp 170 billion ($20 million), the company said in a statement.<\/p>\n
\"We are pleased to prove our commitment to the Indonesian
\nmarket by investing further in Indonesia,\" Vic Apps, executive
\nvice president and general manager of the Asian division of
\nManulife Financial said in a statement.<\/p>\n
He said the remaining 9 percent of the shares are still held
\nby the International Finance Corporation (IFC), an affiliate of
\nthe World Bank.<\/p>\n
Manulife Indonesia is a joint venture company established in
\nIndonesia in 1985. It now holds 7 percent of the life insurance
\nmarket in the country, and has assets worth Rp 1.1 trillion ($155
\nmillion). (tnt)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/manulife-boosts-ri-stake-1447893297",
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